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Economics
B2B Stories

Considering Cyber Insurance? Here are Some Things to Think About

Over the years, business owners have become accustomed to purchasing various types of insurance from disaster coverage to general liabilities to help protect their business operations. However, the continued shift to digital operations has brought with it new vulnerabilities that businesses need to address. In 2024 the average cost of a data breach reached a record high of about $4.9 million. While implementing strong cybersecurity measures is the first and most important step to protecting a business’s online operations, cyber insurance could be the next step. Cyber Insurance: What does

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Gary Woodhurst, Commercial Banker - Augusta, Synovus Bank March 18, 2025 No Comments
B2B Stories

Simon Says: Paychecks beating inflation in several CSRA counties

Average weekly wages increased in four counties of the Metropolitan Statistical Area (MSA) in the third quarter of 2024 and fell in the other three. Average weekly wages increased by $26 in McDuffie County, $19 in Richmond County, $4 in Aiken County, and $10 in Edgefield County. In percentage terms, only the Aiken County wage increase did not better inflation over the three-month period. Average weekly wages in Burke County fell $123 to $1275, the lowest level since 2006. (See why below) Columbia County wages fell $10 to $922, and

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Dr. Simon Medcalfe March 17, 2025 No Comments
B2B Stories

United Way’s goal surpassed despite company decline

The United Way of the CSRA (UWCSRA) held its annual luncheon on March 11 to mark the end of its capital campaign. Brittany Burnett, President and CEO of UWCSRA, told ABD the luncheon is an opportunity to recognize companies and individuals that went above and beyond to support the annual campaign. This year’s Spirit of Community Award was presented to Aurubis Richmond for its commitment to strengthening the CSRA through community involvement. Donnell Jenkins, a volunteer at MACH Academy, received the 2024 Alvin W. Vogtle Volunteer of the Year Award

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Dana Lynn McIntyre March 16, 2025 No Comments
B2B Stories

Developments popping up across North Augusta

Attendees at the North Augusta Chamber of Commerce’s March Good Morning, North Augusta breakfast got an overview of how and where North Augusta is growing. City Administrator, Jim Clifford used a series of slides to give a virtual tour of the city, highlighting residential and commercial development underway along with projects still on the drawing board. North Augusta is booming with new housing construction, particularly apartments and multifamily housing. Developments, both new and expansions of existing developments, dot the area around Highway 25/Edgefield Road at exit 5 off Interstate 20.

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Dana Lynn McIntyre March 13, 2025 No Comments
B2B Stories

Construction Almost Finished on $35 Million CSRA Development

A two-part development in the heart of North Augusta, combining new construction with historic preservation, is getting close to completion. Beacon Bluff, a mixed-use project announced in late 2023, is a 36,000-square-foot project across the street from the North Augusta Municipal Building. It is renovating a historic building that once housed a skating rink and later a carpet shop, on Georgia Ave. It also has a new building which will include retail, restaurants and professional space. “We are working on the courtyard that is between the two buildings, the rink

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Dana Lynn McIntyre March 12, 2025 No Comments
B2B Stories

An Eye on Consumer Spending: Navigating Growth and Challenges in Augusta

As Augusta continues to strive for success in a dynamic economic landscape, business leaders have reason for optimism. Nationally, consumer spending is on the rise, fueled by moderating prices, steady wage growth, and historically low unemployment rates. Not to mention, the share of credit card holders making only minimum payments on their bills rose to 10.75% nationally in the third quarter of 2024, the highest it’s been in 12 years according to recent Fed data. These trends reflect a bolder and more confident consumer base, which is driving demand across

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By Kevin Glass, Augusta Market President, at Synovus Bank and Gary Woodhurst, Commercial Banker - Augusta, Synovus Bank March 11, 2025 No Comments
B2B Stories

Simon Says: Baseball Affects the Economy

Last week, I beat the Augusta heat (and it is only March!) by heading up to Iowa to do a presentation. I can’t wait for Augusta in August, especially after all the lost tree canopy from Hurricane Helene!!! Climate change is making extreme weather more common, including extreme hot and cold temperatures. Economists Kevin Kuruc, Melissa LoPalo, and Sean O’Connor wanted to determine how much people are willing to pay to avoid uncomfortable temperatures. They used attendance data from Major League Baseball from 1950 through 2000, a period with over

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Dr. Simon Medcalfe March 10, 2025 No Comments
B2B Stories

South Carolina Governor protecting businesses with legislation

Elected leaders and businesses in South Carolina have joined together to push for tort reform laws during the current legislative session. Gov. Henry McMaster (R) was surrounded by lawmakers, business leaders, and employees as he issued a call to address the impact current tort laws have on the Palmetto State’s economy and future development. “As you all know, we are booming, but there can be impediments to that. Can be anchors holding us back,” cautioned McMaster. “Prosperity requires our state’s civil justice system to allow fair and prompt enforcement of

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Dana Lynn McIntyre March 9, 2025 No Comments
B2B Stories

Bank enters CSRA market to open multiple branches

Chase Bank is launching its first location in Augusta, across from the Augusta National Golf Course, and in time for thousands of people attending the Masters. Chase’s first branch is at 2805 Washington Road at Alexander Drive in the shopping center in front of Kroger. “We anticipate opening at least four branches in the (Augusta-Aiken) market over the next three years,” said Chase Bank’s spokesperson, based in Charleston, South Carolina. The signage is up and the bank will be occupying several bays in what was once a Five Guys Burgers

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Neil Gordon March 9, 2025 No Comments
B2B Stories

Tort reform legislation moves forward

Two bills that are Ga. Gov. Brian Kemp’s (R) call for reforms to the state’s tort laws are advancing during the current legislative session. The state Senate has approved SB 68 and SB 69. Among the provisions in SB 68 is one limiting owners’ liability for injuries on their property and placing restrictions on damages awarded for medical bills to what was paid by the plaintiff. SB 69 places regulations on third-party litigation financing. The Georgia Chamber of Commerce immediately supported both pieces of legislation, SB 69 in particular. “Georgia’s

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Dana Lynn McIntyre March 6, 2025 No Comments
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